Wacker Neuson achieve record annual revenue

German-based construction equipment manufacturer 1651 Wacker Neuson is celebrating record annual revenue and earnings. Revenue rose 31% in 2011 to €991.6million (US$1.304billion), compared to €757.9million (US$997million) the previous year. Meanwhile, Group earnings more than doubled last year to €162.6million (US$213.9million), from €77.8million (US$102.3million) in 2010. Wacker Neuson said it was keen to expand in 2012 in order to maintain growth in its revenue and earnings. "In the last two years alone, our company has seen revenue rise by around 66%," said Cem Peksaglam, chief executive of Wacker Neuson. "In 2011, growth was particularly strong in the US, Scandinavia and Central Europe. Our compact segment for the construction and for the agricultural industry revealed a particularly strong increase on the previous year." Peksaglam claimed that good weather conditions in Europe and the US in the fourth quarter of 2011 had also had a positive effect on Group figures. The three-month revenue of €264 million (US$347.3million) was up 28% on the €206.2million (US$271.2million) achieved in the same period of 2010, which was also perceived as a strong period for the Group. He added: "Particularly in more developed markets, customer expectations for quality, comfort, maintenance, safety, environmental sustainability and versatility of our machines continue to rise – in both the construction and agricultural industry. This is exactly where our strengths lie and our products lead the market in all of these areas. We are also a high performance organisation thanks to our efficient processes, fast decision-making and lean administration." Peksaglam said the Group’s financials and assets remained very healthy with a high equity ratio of around 75%, and a low net financial debt of around 10%. He said Wacker Neuson would continue to utilise market opportunities in Europe, North and South America and is assessing the viability of launching compact equipment products in Asia. The company has also started to expand the medium-price range of its light equipment in Asia. It will also exhibit at 688 Bauma in Shanghai in November 2012. Peksaglam continued: "2012 is going to be a year that will see us build on our international growth strategy. We will therefore focus our investments this year on expanding our international sales and distribution network. "By the middle of the year, we will have started production at our new compact equipment production facility in the Austrian town of Hörsching, near Linz – one of the largest, most modern factories of its kind. This will enable us to triple today’s production capacity for excavators, dumpers, and skid steer loaders." "Despite the debt crisis in Europe, we have our sights firmly set on further growth in 2012."